The subsidiary of a little known coin has become a member of an IoT alliance, The IoT Connectivity Alliance, which describes itself as “the Internet of Things standard alliance established by the Alibaba.com IoT industry partner.”
In the usual circumstances, that in itself appears to us to be almost a non-event, but some have called it as a Waltonchain partnership with Alibaba, which appears not to be the case.
Still, in a country that has banned crypto-exchanges, perhaps even the membership of an alliance of a subsidiary of a coin is noteworthy.
Noteworthy for the fact they have to use a subsidiary, called Xiamen Zhongchuan IOT Industry Development Co., Ltd. A subsidiary which makes no mention of blockchain or Waltonchain on their page, describing itself instead as:
“An Internet of things enterprise development platform built on the basis of the Xiamen Internet of Things industry association.”
Something which reminds us of the stories we’ve heard about Alan Turing having to hide his sexuality, or in the case of China entrepreneurs having to hide blockchain or coin from their materials.
Which might perhaps explain why they have so many subsidiaries. One of them, CityLink, even apparently won an award at China IoT Industry Annual Selection.
Innovative entrepreneurs now criminals in the country of unfree. That would have perhaps been a better headline, but they’re still chugging along through subsidiary loopholes.
Yet, just as South and North Korea might now declare peace, and just as one can begin to hope peace might fall in Syria, we also hope in this space China will stop treating innovative entrepreneurs like criminals, end its hostilities towards this space, and welcomes a new roaring 20s.
Because what Waltonchain appears to be aiming seems quite interesting. They are basically trying to marry blockchain technology with supply chains by providing small internet of things chips with private and public blockchain addresses for verification, authentication, and so on.
They’re far from the only ones in this space, and they can be seen as competitors to VeChain or to one use case for Ethereum. Yet supply chains is a huge industry and really it’s what sort of runs the world, so there’s probably plenty of room there for many different approaches.
So we wait to see what else comes off China and IoT as with their specialization in hardware manufacturing they’re probably best placed to play with it.
But considering their continued blockade of the west in this area, then it might also be somewhat wise for western companies to build homegrown hardware expertise lest they get shut out of China like this space did.